Central Vermont Public Service has reported a net loss of $5,000, or $0.01 per diluted share, for the fourth quarter of 2008, compared to a net income of $5.3m, or $0.50 per diluted share, for the same period of 2007.
Central Vermont Public Service has reported total operating revenues of $82.68m for the fourth quarter of 2008, compared to $85.86m for the same period of 2007.
Central Vermont Public Service has reported a net income of $16.4m, or $1.52 per diluted share, for the year 2008, compared to $15.8m, or $1.49 per diluted share, for the year 2007.
The company has reported total operating revenues of $342.16m for the year 2008, compared to $329.11m for the year 2007.
Bob Young, president of Central Vermont Public Service, said: Extremely high storm restoration costs due to a historic ice storm in December would have significantly affected our fourth-quarter and annual earnings, but we received a favorable Public Service Board regulatory decision, with the Department of Public Service’s endorsement, under our alternative regulation plan and were able to defer $4.1m of those costs.
